Business
1-Day MD/CEO Initiative: Wema Bank MD Donates One Day Salary to Chiderije Mbah
Moruf Oseni, the MD/CEO of Wema Bank, Nigeria’s oldest indigenous bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT, has donated his May 27 salary to Chiderije Mbah, the 12-year-old child, who emerged winner in the Wema Bank 1-day MD/CEO initiative for Children’s Day.
The Wema Bank 1-day MD/CEO initiative was launched by the Bank on May 21, 2025, calling on Nigerian children to showcase their potential for leadership and career success in the banking industry, by uploading video submissions where they share their ideal role in the bank and why they deserve to win.
Among dozens of entries received, 12-year-old Chiderije Mbah’s entry sparked outstanding recommendations for his embodiment of the role of MD/CEO, leading to his emergence as winner and an exclusive opportunity to become Wema Bank’s MD/CEO for Children’s Day.
From his grand reception at the Bank’s Head Office Facility in Lagos to one-on-one meetings with top executives of the Bank, Nigerians across the world applauded in awe as Wema Bank set an unrivalled precedence by walking the talk in empowering children to be the leaders of tomorrow.
Crowning it all off, Moruf Oseni, the Bank’s MD/CEO, pulled an impressive surprise, giving out his one-day salary for May 27 to the 1-day Wema Bank MD/CEO, Chiderije Mbah, encouraging him to keep up the great work and work hard towards truly becoming an MD/CEO in the near future.
Officially handing over the symbols of office to Chiderije, Moruf Oseni shed light on the Bank’s motivation for annually commemorating Children’s Day in such a grand and intentional manner.
According to him, “As a Bank, our mission is to empower lives through innovation, and this is a mission we are committed to seeing through from cradle to grave, as encapsulated in our creed, ‘With You, All The Way’.
“This is why Children’s Day is so important to us. Every great man, woman or even institution, was once a child, so to forge the leaders of tomorrow, we need to begin today”.
“We can all agree that Wema Bank has been walking the talk over the past 8 decades, thinking out of the box, and creating innovative ways to empower children for the right future. But today, in commemoration of Children’s Day 2025, we are taking things a step further and giving the leaders of tomorrow a platform to lead today.
“As Chiderije will be carrying out my duties for today, it is only right that he earns my one-day salary today. The Wema way is ‘work hard, reward hard’, and as MD/CEO for today, Chiderije will experience it first-hand. It is our hope that this will inspire not just him, but every other child to put in the good work and make us proud. Happy Children’s Day, from Wema Bank”, Oseni concluded.
Access Bank has been named Bank of the Year 2025 – Nigeria at the prestigious Banker Awards ceremony held in London on Wednesday, December 3, 2025. Organised annually by The Banker, a publication of the Financial Times Group, the awards celebrate the best-performing financial institutions across more than 120 countries, recognising excellence in innovation, financial performance, operational resilience, and industry leadership.
The announcement was made during a high-profile gala at the Peninsula Hotel in London, where leading global banks gathered to celebrate outstanding achievements in the international financial services sector. Access Bank emerged as the sole winner for Nigeria, reflecting the Bank’s exceptional performance, disciplined execution of strategy, and continued commitment to delivering world-class banking experiences.
Speaking on the recognition, Roosevelt Ogbonna, Managing Director/CEO, Access Bank, said: “This award reflects the remarkable dedication of our people and the trust of our customers. Being recognised as Bank of the Year 2025 – Nigeria is a strong validation of our strategy to build a globally connected, digitally powered, and sustainably driven banking institution.
We remain committed to delivering exceptional value across all our markets while contributing meaningfully to Africa’s economic advancement.”
Access Bank has continued to solidify its position as one of Africa’s most forward-thinking financial institutions, driven by innovation, customer-centricity, and strong corporate governance. The Bank’s strategic investments across digital transformation, trade finance, financial inclusion, and sustainable banking have positioned it as a leading force shaping Africa’s financial future.
These initiatives, coupled with its disciplined approach to growth and operational excellence, continue to set Access Bank apart within the continent’s rapidly evolving financial landscape.
Each year, The Banker undertakes a rigorous, five-month evaluation process involving more than 1,000 applications submitted by banks worldwide. Only one bank is selected per country, underscoring the exclusivity and prestige of the award. Access Bank’s victory therefore represents not only a recognition of its achievements over the past year but also a reaffirmation of its long-term commitment to driving innovation, supporting customers, and enabling a more connected African and global economy.
With operations spanning three continents and a customer base of more than 60 million, Access Bank continues to demonstrate its capability and ambition to shape the future of banking in Africa and contribute meaningfully to global financial progress.
About Access Bank
Access Bank, a wholly owned subsidiary of Access Holdings Plc, is a leading full-service commercial bank operating through a network of more than 700 branches and service outlets spanning 3 continents, 24 countries and over 60 million customers. The Bank employs over 28,000 people in its operations in Africa Asia and Europe, with representative offices in China, Lebanon, India, and the UAE.
Access Bank is a diversified financial institution which combines a strong retail customer franchise and digital platform with deep corporate banking expertise, proven risk management, and capital management capabilities.
The Bank services its various markets through three key business segments: Corporate and Investment Banking, Commercial Banking, and Retail Banking. The Bank has enjoyed what is Africa’s most successful banking growth trajectory in the last 20 years, becoming one of the continent’s largest retail banks. As part of its continued growth strategy,
Access Bank is focused on mainstreaming sustainable business practices into its operations. The Bank strives to deliver sustainable economic growth that is profitable, environmentally responsible, and socially relevant, helping customers to access more and achieve their dreams.
The Central Bank of Nigeria (CBN) has increased cash withdrawal limits on all channels to N500,000 weekly for individuals and N5 million for corporates.
Announcing the policy revision in a circular on Tuesday, the regulator pegged automated teller machine (ATM) withdrawals at N100,000 daily, with a weekly cumulative withdrawal of N500,000.
Fidelity Bank Plc has received the Straight-Through Processing (STP) Excellence Award from Citigroup in recognition of its outstanding operational efficiency in foreign currency payments in 2024.
STP refers to transactions processed accurately and without human intervention, resulting in a cost-effective and timely process. Fidelity Bank, which has consistently earned this award over the years, achieved an impressive 97%+ STP rate in concluding USD payments in the awarding period.
Citigroup, a leading global bank headquartered in New York and present in more than 160 countries, annually honors select banks and financial institutions that demonstrate the highest levels of efficiency in foreign currency transactions.
Dr. Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer, Fidelity Bank Plc, attributed the achievement to customer trust and the team’s dedication.
“This award reflects the quality of initiatives we have implemented to simplify cross-border payments for our customers. It affirms our commitment to delivering cutting-edge services in servicing our valued customers,” said Dr. Onyeali-Ikpe.
The recognition adds to a growing list of accolades for Fidelity Bank especially in deploying innovative services and products in meeting customer needs. These include an award from the Nigeria Customs Service for being the first bank to successfully process Customs Duty and the Pre-Arrival Assessment Report (PAAR) on the Unified Customs Management System (UCMS). The bank also won Most Innovative Bank of the Year and Best Bank for Export and Trade Finance at the 2025 BusinessDay Bank and Other Financial Institutions’ (BAFI) Awards.
“We are delighted by this recognition and remain committed to providing seamless, value-adding services to our customers as we pursue our mandate to help individuals grow, support businesses to thrive and propel economies to prosper,” added Dr. Onyeali-Ikpe.
